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Tuesday, March 28, 2023

Financing in fall: 33% of 0 KM

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Meanwhile, in a context marked by high inflation that reduces financial options, in 2018 financing came to represent half of total sales, with fluctuations of around 50%. While in the record year of 2013, with almost a million patents, garments represented 41.9% of operations, more than 400,000 garments.

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In addition to pointing to tax factors, obstacles to importing products and the macroeconomic crisis, in the automotive sector chain they believe that the improvement of the financial offer is essential to resume the sales levels of a decade ago.

“If we were able to improve the credit system with more accessible interest rates, we have the possibility of repeating or improving a record year of sales as we knew how to have in 2013,” Martín Zuppi, president of FCA Argentina, which markets the brands in the country, told Ámbito. Fiat, Jeep and RAM, today part of Grupo Stellantis.

Alejandro Lamas, secretary of the Automotive Chamber of Commerce (CCA), also mentioned to this medium that, first, it is key to improve the purchasing power of wages and the economic framework, as well as expanding the product offer. “From there, abundant financing options are needed, with instruments that are not developed in Argentina, such as leasing.”

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If used car operations are also added, January registered 25,354 pledge operations in terms of car financing, which means 13.8% of total sales. To the 16,970 that correspond to 0 km, the remaining 8,384 that were made on used vehicles are added.

The Acara report indicated that the banks had an “interesting performance in both markets (new and used)”, since they gained participation compared to last year and showed greater dynamics than other types of creditors. In terms of a medium-term perspective, “this year does not seem to be one that stands out for improving the penetration of financing instruments in the Argentine automotive market.”

Source: Ambito

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